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forever 21 news and archive

Retail

ABG expands Forever 21's presence in Latin America

Authentic Brands Group has announced a new partnership with AR Holdings to expand the presence of Forever 21 in the region of Latin America. A leading retail operator in the region, AR Holdings will help drive the brand across ecommerce, wholesale and 26 retail locations in Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador,...

17 hours ago

Retail

Forever 21 re-enters the UK and EU market

US fast-fashion brand Forever 21 is launching new localised online stores for the UK and across Europe to target British and European consumers due to what it is calling “high demand” for the brand since its exit last year. The launch is part of the brand's new e-commerce centric global expansion strategy and comes in partnership with Global-e,...

17 Jun 2020

People

Forever 21 appoints former H&M executive as new CEO

Authentic Brands Group (ABG) has announced the appointment of former H&M executive Daniel Kulle as the new CEO of Forever 21. The news comes after ABG, along with Simon Property Group and Brookfield Property Group, acquired the embattled LA-based fast-fashion chain earlier this month after it filed for Chapter 11 bankruptcy protection in...

26 Feb 2020

Business

Forever 21 was officially acquired by Authentic Brands Group & Simon

Authentic Brands Group, Simon Property Group and Brookfield Property Group have confirmed acquisition of Forever 21. ABG and Simon will each own 37.5 percent of the retailer's intellectual property and operating businesses. , while Brookfield will own 25 percent. “Forever 21 is a powerful retail brand with incredible consumer reach and a wealth...

19 Feb 2020

Business

The latest on Forever 21: it accepts 81 million offer from commercial real estate-led investors

New York – Forever 21 is reported to have taken an 81 million dollars from a group of buyers led by commercial real estate developers including Simon Property Group and Brookfield Property Partners. "Once approved the agreement will allow Forever 21 to come out of bankruptcy, keeping its headquarters, stores and E-commerce operations open,...

11 Feb 2020

Business

Forever 21 considers sale for 81 million dollars

Forever 21 might be bought up by one of three buyers. The struggling fast fashion chain has been scrambling to restructure since it filed for bankruptcy protection under Chapter 11in September 2019.Now, the company has announced that it is considering a sale to a group of bidders that includes Simon Property Group, Brookfield Property Partners...

3 Feb 2020

Retail

Forever 21 launches localized online stores in 4 markets

Forever 21 is targeting consumers in Canada, Asia, APAC and LATAM through localized online stores. The American retailer has teamed with cross-border e-commerce solutions provider Global-e to build its localized digital stores and accelerate online growth in each specific market. The new online stores are said to launch this month, ahead of...

7 Jan 2020

Business

Forever 21 confirms the closure of 200 stores worldwide

New York - American fast-fashion chain Forever 21 has confirmed the closure of nearly 200 of its stores both in the United States and abroad, as part of its commitment to get out of its current bankruptcy. U.S. news network CNBC published earlier this week a list provided by the fashion firm itself of the nearly 200 stores that could close as...

31 Oct 2019

Video

Analyzing the rise and fall of Forever 21

As the once rapidly expanding fast fashion brand, Forever 21 prepares to file for bankrupcy, Business Insider takes a look at what went wrong for the brand. At its peak, Forever 21 was making 4.4 billion USD in profits and is currently one of the largests tenants of malls in America. If someone would have predicted this in 2008, shoppers would...

7 Oct 2019

Business

Forever 21 exits Canadian market amidst bankruptcy

Forever 21 has announced plans to wind down operations of its Canadian subsidiary, Forever XXI ULC, also referred to as Forever 21 Canada. The companyvoluntarily filed for bankruptcy protection under Chapter 11this weekend. The American fast fashion chain was granted protection under the Companies' Creditors Arrangement Act by the Ontario...

30 Sep 2019

Business

Forever21 files for bankruptcy, “takes positivesteps to return to profitability”

New York – Forever 21, Inc. announced Sunday it has voluntarily filed for bankruptcy protection under Chapter 11. The fast fashion company broke the news to its customers first, via a letter on their website where they reassure them “this doesn’t mean that we are going out of business.” “This was an important and necessary step to secure the...

30 Sep 2019

Business

Ariana Grande sues Forever 21 for 10 million dollars

Forever 21's list of battles is growing. The American fast fashion chain, which is reportedlymulling a bankruptcy,is now being sued by pop star Ariana Grande. According to Grande, Forever 21 has used the star's signature look and style for advertisement purposes without her permission. Grande filed a suit earlier this week in a Los Angeles...

5 Sep 2019